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tv   Business - News  Deutsche Welle  June 12, 2018 3:15pm-3:31pm CEST

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well the p five are not there because of their nuclear weapons that's not the part of the security council agreement but i think that we really have to stop thinking this is something attractive this will be weighted doing that is in creating incentives for other countries to also develop nuclear weapons these couples are in command then cause catastrophic cements have consequences cameco weapons biological weapons. better said fame from michael thank you so much for joining to. passage to the good that. they make the commitment. they find solutions. they inspire.
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africa the. stories of both people making a difference shaping their nation. and their continent africa on the move stories about motivational change makers taking their destinies into their own . d.-w. is a new multimedia series. d w dot com africa on the move. korean caution history as north korea's kim jong un and u.s. president donald trump meet and edge to hostility on the korean peninsula would mean the beginning of prosperity but financial markets that short. and leading economists say the global economic outlook is docketing by the day. o.e.c.d. secretary-general and. i made this one let's do business the initial
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euphoria is already fading europe's stock markets of traders wary about the details of kim and trumps the nuclear nation deal but if it proves sustainable it will boost the impoverished economy of north korea which has a lot of catching up to do before the war the north had the upper hand over the south with the lion's share of industry that is before the two split the two koreas similar in size but there are twice as many people living in the south well that we don't have exact numbers and the two economies are vastly different twenty sixteen south korea's g.d.p. was around fifteen hundred billion u.s. dollars the north's just twenty six billion south korea is one of the world's biggest exporters with a huge surplus add imports and it does a trillion dollars worth of trade with other countries every year north korea's trade is minuscule a lost all of it is with china let's bring in our correspondents in singapore and
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hang and our financial correspondent in frankfurt to milan to talk about this a complete nuclearization is what we want to talk about but first we're going to go to the report. the reports view into north korea from the chinese border city of dandong here interest in the events that led to the extraordinary meeting of the north korean leader and the u.s. president has been huge for many locals it was about business as much as politics. where. if the meeting between trump and kim is successful it will be great for us people and because we do a lot of cross border trade. is mainly by cross border trade that's what my husband does he had investments in north korea so we really hope that the country opens up soon. for a country as isolated as north korea maintaining ties with china has proven to be
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an economic lifeline look at the numbers and you'll see why in twenty fifteen north korea imported goods worth almost three and a half billion dollars eighty five percent of them came from china indian and russian imports together accounted for a further five and a half percent with countries including mexico and the philippines making up the rest. turning to north korean exports now they were worth two point eight billion dollars eighty three percent of them went to you guessed it china a further three and a half percent went to india north korea's top exports include minerals textiles and fish. but amid the flurry of excitement about bridging differences it's easy to overlook the source of north korea's decades of political and economic isolation reports of human rights abuses including slave labor prison camps and torture are
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among the reasons the country's been shot of international diplomacy. with you completes the. well ben walked the walk on the red carpets of capella hotel but are they talking the talk and investors don't seem very convinced to a very subliminal subdued movement in the markets today. this is framed to look like a win but the market is seeking for the clarity as to what this denuclearization actually means jill how do european markets work into what are they even reading into it at all i mean the market reaction here has been a pretty flat as well and in contrast to the cautious optimism in the lead up to
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the summit but that optimism of course was a founded on nothing going terribly wrong no nothing has gone terribly wrong and now we have the outlines of the agreement that are light on the kind of detail that would provide fresh impetus from investors and that's indeed reflected on the indices which are more than restrained today then i think investors and do realize that this is just the start of a process and that there'll be more for them to react to that on the line that would be more significant perhaps like obvious failure or success i think what's interesting is there is a lot going on behind the scenes and drawing a speculators are already buying up land along the borders coal supplies a stocking up is an economic surge around the corner. well we are seeing a quite a bit a speculative buying and speculative property prices coming up on the border towns such as the one featured in the city of dun dun and this is in hopes of the restrictions and the sanctions being lifted. north korea in hopes that the business
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will come booming again this is also and disappear in all of north korea's money class and what they can do to move business around the region as well briefly which countries would benefit most from a prosperous north korea. well immediately looking at all the asian nations such as japan and china south korea already enjoys quite a bit off of business from north korea and that's expected to grow as well emerging markets also in the region each of us if we do extend expect to see a bit of a gain from this year as well and you know i guess this gives global tourists new destination you know you could almost hear donald trump mentally building a trump tower on the north korean coast he did say that it would be good for condos and hotels but you know obviously there's a lot to overcome there tourists are still tightly monitored and controlled and
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until tourists are able to move independently and safely there shouldn't be a tourist search and maybe there's a business deal there for trump as well thank you very much to both of you andrea in singapore general in frankfurt force of the clouds over the global economy getting dock of by the day that's how i am if chief cristina god is describing the state of global trade in the euro trump here in germany the economists don't appear to be worried report presented by the o.e.c.d. in berlin suggests growth in europe's top economy will remain strong next year if that's the least germany's large trade surplus is the source of concern over the country to invest more in infrastructure and technology. and as he so we've got the o.e.c.d. secretary general right here with us in the studio. thank you very much for coming in thank you will explain to me how everything is going so wrong as far as trade goes as far as global trade goes and how germany is managing to remain so
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economically stable when it's so dependent on global trade it's a huge export would your basic premise is that everything's going so wrong and does not trade is now growing at four to five percent that is higher than we've ever had in many years actually we had trade growing at zero minus something and then we have two percent very anemic now ideally should be growing at about seven to eight percent. but it's catching you know it could be doing even better at the moment what has been doing better because it's not because of the last great tension you know it's because we have many many years because of the crisis because we're still suffering the consequences of the crisis but it does not seem to be too affected by these tensions and by but the the tensions are creating uncertainty and uncertainty is bad and it's a moment when the recovery needs to underpin you know to be to be underwritten by
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all the players exactly if you want that growth to be sustainable you need investment and investors at the moment don't see a stable future trade is growing because there's greater confidence but that should lead to greater investment and investment you're absolutely right in you know investment requires just like like seeds need to water you know it requires confidence confidence confidence so as the o.e.c.d. head what are you doing to give investors that confidence i mean you can give your outlooks you can give your warnings you know we also give policy recommendations is not just about projections and numbers. but they have to be you know numbers that kind of whisper in your ear and the ideas everybody tries to attract foreign investment everybody wants more foreign investment to come to the country whether you're developing country a developed country or half way if the question is how do you do that which of the
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elements that are being seen by investors so. the question is how do you focus on those elements how do you make sure is it the skills is it the workforce is it the rule of law is it going to be a case of refocusing on different countries and different economies leaving the u.s. out of the equation for example well you can never leave the u.s. out of the equation about anything they're the largest economy in the world and they're going to continue to be the largest economy in the world for a long time the only question is this is a moment when we should reinforce multilateralism. why because globalization did not benefit everybody in the same way and therefore being cost about globalization itself. and multilateralism how do you deal with trade if not multilaterally how do you deal with investment flows borders by definition of insult how do you deal with things like climate change if not multilateral how
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do you let me. how do you convince trump to deal multilaterally i think we have to continue to put the evidence forth we have to continue old to put the evidence about what happens when you have solutions or even buy lots of solutions and why it is that you get. a below par. let me give you a very specific example we created the steel over capacity. for him in the g. twenty you know and then what happens next you know last year in hubbard we confirmed that under g twenty presidency. and we're not. that we're not using a great message to thank you very much is that of using the global forum. thank you very much.
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as to i know it's silent. alexander galston life from the international space station how have the fans days on what would be. what's expecting from the rise in this mission. trying to. present some friends from outer space to be with alex on that yes it's another way to jump to a lot of the heavy funky w. news to get fifteen hundred hours for you to see. hi everyone and welcome to another week of your max from college costs to marvelous music this is what's coming up in today's show. a celebration the force a sports car is turning over owing seventy to. the turner and the
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